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Thursday, November 13, 2008

Jobless Claims

Jobless claims come out today.

Jobless claims is a number put out by the Department of Labor, stating how many people applied for unemployment insurance over a week. The reason that jobless claims numbers are so important is because it can indicate a direction for the market. This movement can be dramatic when the number of people filing increases dramatically. People without jobs tend to have less money to spend. The decline in consumption can reduce sales throughout the economic spectrum, which reduces profitability, and therefore hurts businesses. Lower profitability can mean markets decline as some investors find alternative methods to invest other than equities. At the same time, those without jobs, need money, so they may raid their retirement plans for funds, which can drive markets further down as mutual funds sell shares to cover these redemptions. Initial claims are the most watched of the jobless claims numbers, because those represent the newest people filing for unemployment. These are the people that just lost their jobs.

The last report by the Department of Labor had the 4-week average number of initial claims at 477 thousand, and the total non-adjusted number of unemployed persons was 3,319,936. The average number of initial claims expected this week according to is a whopping 482 thousand, while Yahoo Finance has a slightly lower number of 479 thousand. Either way, it's pretty dismal. Anyway, let's hope that the numbers aren't worse than expected.

For more information about jobless claims, visit Bloomberg here.

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Tuesday, November 11, 2008

En Passant: Good Cup Of Coffee

A good cup of coffee, first thing in the morning especially, can help wake you up. It can help you be more productive. Tea can provide the same kind of pick-me up, so try that out too. Try starting out your day with a hot beverage if you want to get more accomplished.

If you ever want to hear an interesting story, you should ask my Dad about how coffee was the real reason America won Revolutionary War. However that story is for another day.

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Monday, November 10, 2008

What Will The Closing Bell Look Like?

This could be a very dramatic week for the economy and the markets. There is a lot happening. Over the weekend, China has put out their own bailout package of $586 billion. On Tuesday, we find out how bad the Auto industry is really doing with the Auto and Truck sales numbers due. We also get some unemployment data, home sales, and consumer credit this week. I suspect all of the numbers this week will be in the mediocre to bad range. The question is, with a likely volatile week, where will the markets close on Friday?

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Saturday, November 8, 2008

Passed my Series 63 Exam

Just letting you all know that I passed my exam yesterday!

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Wednesday, November 5, 2008

President-Elect Obama

Best wishes to the next President!Hopefully you call an end to all of the bailouts.

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